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20121101
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a better world for you. >>> superstorm sandy didn't derail the housing market after all. we have more good news out of that bee leagbeleaguered market >> they say sandy did not impact october numbers so much. it was only three days. we'll see the effects of sandy in november, however. overall didn't change the good recovery we're seeing in october. take a look. existing home sales rose 2.1% month to month. that's slightly above expectations. that's because september's numbers were revised down slightly. the bigger story is supply. inventories are down a whopping 22% from a year ago to 2.41 million units. that's lower than any point since late 2005. that is the height of the housing boom. that is due to fewer distressed properties for sale and all that competition is pushing home prices higher. realtors report an 11% jump year over year in the median price. while some is the shift in what's selling to higher priced homes, because that's of course how medians work, fun fact is home sales higher than $500,000 are up 40%. they still make up less than 10% of the market. with all cash investors
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